Resource allocation generally refers to the assignment of available resources to a task or goal in the most economic or optimal manner. In some instances, resource allocation may include the scheduling of activities and the resources required by those activities while taking into consideration both resource availability and time. As a result, resource allocation may involve the assessment of the value of a resource or of the effects of exploiting a resource. For example, the quantity of a resource may be determined in absolute terms, such as area, or in terms of the ability to utilize it.
One real-world application of resource allocation arises when packing items into a container for shipment on a truck, boat, or airplane. The container has a limited amount of space and is, therefore, a limited resource. It is desirable to be able to pack the most items into the container in the most economical way, while adhering to any constraints or requirements.
A traditional example or implementation of a resource allocation problem is the knapsack problem. The knapsack problem seeks, when given a set of items with a weight and value, to determine the number of each item to include in a collection so that the total weight is less than or equal to a given limit and the total value is as large as possible. For example, there may be n types of items such that each kind of item i has a value vi and a weight wi, and the maximum weight that can be carried in the bag is W. The knapsack problem can be applied to a number of decision-making processes in different fields including financial applications and cryptography, as well as transportation and packing applications.
However, more complex versions of the knapsack problem, such as those that include items of different sizes, shapes, and types, with different types of equipment for loading the items, and including other packing or business constraints, require a more enhanced and developed solution.